Builder is unable to complete the construction in Bangalore - Jv

We have a land and gave it to the builder in October 2014 . He made a joint venture and stopped the consturction. after six months we filed a case .In 2016 Jan he made another joint venture (may be this was official joint venture ).In october 2016 We went to the court and we gave him 14 months of time .In december 2017 he was supposed to complete the construction. The work was done only for a week .Currently only stilt ,ground + 2 is built and we got an estiamation of 57 lakhs. We asked the builder that we want to settle and he is quoting 1.5 crores .We Are ready to pay around 60 lakhs as per the cost that he os spent. But he is asking 1.5 crores .he is give us 3 lakhs as non refundable deposit .that can also be added at the time of settlement. What do you suggest as we dont want to give him more time because he is not capable to complete and someone had come searching for him stating that he is taken 12 lakhs from them for a two bedroom flat. He has to pay 35 thousand from January 2017 as per the court but we do not want his money .We are ready to settle it down by paying the current cost of construction. We used to get 20 rent from the previous houses and currently everyhing is demolished and we are in a rented house . We have lost the rent for 3 years and counting. I need some opinion .kindly help